Wed Aug 24, 2011 4:56am EDT * H1 adj EBIT 217.9 mln euros vs Rtrs poll of 220mln euros * Says still seeing strong demand for oil, chemical storage * H1 capacity in use rate 92 pct vs 93 percent last year * Vopak shares down 1.5 pct (Adds CFO, analyst comment, details, shares) By Aaron Gray-Block and Greg Roumeliotis AMSTERDAM, Aug 24 (Reuters) – Vopak , the world’slargest independent storage tank operator, said it was seeingstrong demand for its oil and chemical storage services butstuck to a reduced 2011 outlook on Wednesday. “Vopak shares are down slightly this morning becauseearnings are a tad below consensus but the positive thing is newcapacity kicking in by the end of the year that will boostearnings,” said Micha Tiekink, analyst at Rabobank. Vopak shares were down 1.5 percent to 30.74 euros at 0710GMT when Amsterdam’s midcap index was flat. Vopak which offers oil, chemical and biofuel storage inmajor ports including Rotterdam, Fujairah, Tallinn andSingapore, said it was seeing robust demand for oil storageservices, while demand for chemical storage services was strongin Asia, stable in the Americas and encouraging in Europe. “Based on the healthy demand for tank storage, capacityexpansion projects and our growth strategy, we remain wellpositioned to realise an EBITDA between 600-640 million euros in2011,” chief executive Eelco Hoekstra said in a statement. But Vopak said restrictions in railcar handling atits Deer Park facility in North America due to a dispute with acompetitor hurt its growth in that region, while regulatoryuncertainties in biofuels has hit its plans to expand in thatbusiness globally. The company’s first-half earnings were boosted by the 127.8million euro sale of its 20 percent stake in an oil terminal inthe Bahamas to pipeline operator Buckeye Partners LP . Excluding this deal and other one-off items, Vopak reportedfirst-half earnings before interest and tax (EBIT) of 217.9million euros, down 2 percent. Analysts in a Reuters poll hadforecast 220 million euros. Its occupancy rate slipped to 92 percent, from 93 percentlast year, dragged down by an intensive maintenance programmewhich Chief Financial Officer Jack de Kreij said would last fora further 18 months. “A healthy playing field is between 90 and 95 percent inoccupancy rate and since 2008, when the crisis started, we’vebeen in that range. We remain very confident we will continue tooperate in that range,” De Kreij said in an interview. Vopak aims to add 7.5 million cubic metres to its storagecapacity by 2014 and targets earnings before interest, tax,depreciation and amortisation (EBITDA) of between 725 and 800million euros in 2013. Two of its flagship projects, the first phase of theAmsterdam Westpoort oil terminal and Gate, a liquified naturalgas import terminal in Rotterdam, are due to be commissioned atthe end of the third quarter and buoy second-half earnings. (Editing by Matt Driskill and Andrew Callus)